(VOV) -Businesses need to capitalise on the growing ties between the two countries, and Cambodia’s investment policies to penetrate deeper into the Cambodian market, a forum was told in Phnom Penh on November 15.
- 2013 Vietnam-Cambodia trade fair begins
- Trade expo links Vietnam, Cambodia military firms
- Kien Giang promotes border trade with Cambodia
The event brought together more than 50 representatives from Cambodia-based Vietnamese enterprises, trade promotion agencies, and the Vietnamese Embassy in Phnom Penh.
Vietnamese Ambassador Ngo Anh Dung said environmental, political, and cultural similarities, combined with traditions of friendship and cooperation, create many advantages and opportunities for Vietnamese businesses investing in Cambodia.
Over the years the Royal Cambodian government has carried out comprehensive administrative reforms, promoted trade exchanges, and strengthened economic development in the hopes of attracting foreign investors, including those from Vietnam he said.
However, Cambodia peculiar cultural and political characteristics, as well as its economic infrastructure pose challenges to Vietnamese businesses operating in the country.
The forum offered businesses a chance to compare experiences and update each other on their respective markets, investment environments, regulations, Cambodia’s legal protections for expatriate workers and bussinesses.
It also aimed to boost economic cooperation between the two countries in the interests of sustainable development and mutual benefit.
Vietnam is one of Cambodia’s leading foreign investors, specializing in banking, communications, and agro-processing.
In the first nine months of this year, bilateral trade turnover totalled US$2.7 billion, with Vietnamese exports contributing US$2.3 billion.
The two countries strive to raise the figure to US$3.5 billion by year’s end.
The forum was jointly held by the Vietnamese Embassy in Cambodia and the Ministry of National Defence’s Economics Department.
Đăng ký: VietNam News
